Heisman Trophy odds: Top 5 favorites as Heisman race enters Week 11

Week 11 of the college football season is underway and the Heisman rankings are the closest this season. Washington quarterback and Heisman favorite Michael Penix Jr. holds a slim lead over Oregon quarterback Bo Nix heading into another weekend of college football action. The duo leads a crop of contenders including Michigan's J.J. McCarthy, Ohio State's Marvin Harrison Jr., and Florida State's Jordan Travis ahead of a crucial slate of games.

Here's what each player can do this weekend to improve their Heisman rankings, with odds from BetMGM:

1. Michael Penix Jr., QB, Washington (+150)

Penix Jr.'s the Heisman favorite for good reason. He leads the nation in passing yards with 3,201 and is in the top ten in passer rating (174.6) and passing touchdowns (26). The No. 5-ranked Huskies are 9-0 for the first time since 2016 and ran all over USC last week in a 52-42 win.

This week, the Huskies head home for a matchup with the No. 14-ranked Utah Utes. In the four games leading up to the USC win, Washington's offense looked less prolific and managed to score more than 40 points just once. Meanwhile, Utah's defense is 10th in the nation in points allowed.

Penix Jr. needs another 300-yard, multi-touchdown performance and a win to stay atop the Heisman rankings. If he can do it this weekend against a tough defense, it'll go a long way towards securing Washington's first Heisman Trophy.

2. Bo Nix, QB, Oregon (+200)

Nix dispatched that tough Utah defense to the tune of three total touchdowns in a 35-6 win. That performance and a six-touchdown game against Cal last week firmly puts Nix at the forefront of the Heisman conversation. He and Penix Jr. are far ahead of the rest of the field entering Week 11.

The Ducks are home again this weekend to take on USC. Given what Penix Jr. and the Huskies did last week, Nix and the Oregon offense could shine Saturday. The 8-1 Ducks have one blemish on their 2023 record: a three-point loss to the Huskies.

To keep hopes of a college football playoff and the Heisman alive, Nix needs to continue his impressive form.

T-3. Jordan Travis, QB, Florida State (+800)

Florida State's 9-0 for the first time since 2014 and Travis is a big reason behind it. The senior signal-caller is improving down the stretch of the ACC schedule. He passed for more than 300 yards and scored at least two touchdowns in road wins over Wake Forestand Pitt. It's the first time in his college career that he's cleared both totals in consecutive games.

The No. 4-ranked Seminoles have two home games in a row left this season, starting Saturday against Miami. Last year, Travis needed just 12 passes to score three touchdowns in a 45-3 rout of the Hurricanes.

Another 300-yard, multi-touchdown performance could see him close the gap in Heisman odds to the Pac-12 leaders.

T-3. J.J. McCarthy, QB, Michigan (+800)

The Wolverines' 2023 season's been marred by a sign-stealing scandal but McCarthy's been a standout under center. The junior can't match Penix Jr. and Nix's gaudy numbers but he's second in the FBS in passer rating (188.7) and third in completion percentage (75.7).

The toughest stretch of the No. 2 Wolverines' schedule is in the next few weeks. Saturday's Big Ten matchup against No. 9 Penn State and the Nittany Lions' third-ranked scoring defense.

If McCarthy can have another 300-yard game like he did last week against Purdue and get a win against Penn State, he could separate from the second tier of Heisman rankings.

T-3. Marvin Harrison Jr., WR, Ohio State (+800)

Another Big Ten contender, Harrison Jr. went from a long shot to the top five in Heisman odds. Harrison Jr.'s top 10 in the FBS in receiving yards (914) and touchdowns (10) for No. 3 Ohio State.

As the only wide receiver in the top five, Harrison Jr. has a tougher road to the Heisman Trophy. He's reliant on Buckeyes quarterback Kyle McCord to get the numbers needed to improve his odds.

The Buckeyes take on Michigan State at home Saturday in a primetime broadcast. Another 100-yard game with at least one touchdown would be his seventh such game this season and could set him apart from the others.